out to the shore this weekend? it's way too early for this. good morning to you, i'm peter alexander in for willie geist. this is "way too early." it is way too hot outside, the show so pale it sometimes gets burned under these florescent studio lights. glad you're up with us watching on msnbc or listening live on sirius xm radio. shoot me an e-mail at waytooearly@msnbc.com. let me know why you're awake right now or do as roger goodell and the boys do, text your response to 622639. we'll read your responses later in the show. the next 30 minutes are your cram session for this friday, july 22nd. there is a lot going on today, including a new deal from european leaders to offer greece another massive bailout, even as

the country prepares to default on some of its debt. also, did you hear about this? rahm emanuel getting up and walking out midinterview, we're going to show you what prompted this abrupt exit during a casual chicago q&a. that's coming up a little bit later. first live at 5:30 a.m. here at 30 rock in new york city, with a deadline looming just 11 days away now, president obama is expected to hold a town hall on the deficit in maryland today. this comes amid reports that the president and house speaker john boehner are advancing toward a last-minute deal. news that has some democratic leaders in an uproar. at issue? a plan that would reportedly save $3 trillion over the next decade through steep cuts in spending, but offers no specific tax increases. concerns about entitlement cuts is prompting many lawmakers to say the house's so-called cut, cap and balance plan would fail in the democratic-controlled

senate. the majority leader there, harry reid, has moved up a scheduled vote on that legislation. it will happen today instead of tomorrow. but not before reid blasted the bill on the senate floor. >> i think this piece of legislation is about as weak and senseless as anything that has ever come on this senate floor. and i'm not going to waste the senate's time day after day on this piece of legislation which i think is an an as ma to what our country is all about. i feel confident this legislation will be disposed of one way or another. the american people should understand that this is a bad piece of legislation, perhaps some of the worst legislation in the history of this country. >> as you've heard, senator reid's having his colleagues that cut cap and balance will be, quote, disposed of, but gang of six member oklahoma republican senator tom coburn believes president obama's threat to veto the bill is hollow.

>> the fact is, is you can't solve our problem unless you do what cut, cap and balance wants to do. so it doesn't matter what the polls are. we've got to fix our country. and this is the only viable plan right now that will do that. and i will bet you a porterhouse steak if it lands on his desk he'll sign this puppy. meanwhile the spokesman for john boehner is shooting downtalk of a possible compromise, telling nbc news, quote, while we are keeping the lines of communication open, there is no deal and no progress to report. on the other ther side, jay car also dismissing those reports. >> the breaking news report that you all have probably received is incorrect. there is no deal, we are not close to a deal. we are obviously -- the president is in discussion with all the leaders of congress as well as other members, and exploring are the possibility of getting the biggest deal

possible. >> the senate is scheduled to stay in session this weekend to work on a deficit bill. the house, however, will not be in session. yesterday harry reid slamming house republicans for their decision to take the weekend off. he's been a driving force behind congressional republicans' refusal to compromise raising taxes during debt negotiations, but grover norquist is raising eyebrows with recent comments he made to "the washington post." when asked if allowing the bush tax cuts to expire to close the deficit would not constitute a tax increase and if not extending them would violate his americans for tax reform pledge which many republicans have signed, norquist told "the post," quote, not continuing a tax cut is not technically a tax increase. when asked again if it would break the pledge, norquist said, quote, we wouldn't hold it that way. democrats, including chuck schumer, wasted little time pouncing on norquist's remarks.

>> grover norquist, the hall monitor, when it comes to enforcing the republican party's anti-tax pledge, has given house republicans a hall pass. they should use it. this is a coded message from one of the truest believers in the republican party that it's time for conservatives to step back from the brink. >> apparently norquist is rescinding that hall pass. he quickly walked back his comments during an interview with msnbc. >> there's certain things you could do technically and not violate the pledge but that the general public would clearly understand it's a tax increase. so i can be clear, americans for tax reform would oppose any effort to weaken, reduce or not continue the 2001/2003 bush tax cuts. >> and by not extending the bush tax cuts lawmakers could potentially bring in as much as $4 trillion in new tax revenue. european leaders have agreed

to a bold plan to help greece get out of its debt, announcing a new bailout for the country worth an estimated, get this, $157 billion. the deal's impact on the markets, we go to cnbc, live in london for us with the latest. nice to see you. >> hey, nice to see you too. the markets are cheering that deal. the banking sector is the best performing this morning after strange gains in yesterday's session. this deal is touted to be a landmark deal and it is designed to finally stop contagion in the eurozone. let's go through the technical details in this deal. there will be $157 billion in official loans on top of that the private sector will contribute as much as $60 billion over the next two years. yet, they will face a hair cut of around 20%, and, yes, it may trigger a default. but really just a temporary default. and so far the rating agencies have been mum on that front.

there is criticism, analysts saying the bailout fund, that wasn't extended but it is a right step into the direction of forming or setting up a fiscal transfer union in europe. >> can i ask you specifically, as of yesterday the treasury department we learned no longer has a stake in chrysler. a big loss for the u.s. government, though, how much did this eventually cost taxpayers? >> well, they tout it as a success. they say they have recovered 90% of the initial investment, which was $12.5 billion. keep in mind, the government may no longer be involved in chrysler, but it still holds a 32% stake in general motors. coming back to chrysler, the majority owner is now fiat, the italian carmaker. by the end of thisse eyear, the will own around 59%. the rest of course is owned by the united auto workers. have a great weekend. >> i appreciate it. thanks very much. as the national unemployment

rate rises to 9.2%, there is one area in california specifically that actually is predicting significant job growth. according to a new study released this week, silicon valley employers plan to expand their workforce by 15% over the next two years. nbc's tom brokaw has the latest from that region. >> reporter: silicon valley, the moth moth mother load of high tech has the biggest names to go public for astronomical prices and that means a lot of suddenly wealthy people are in the market for a new car with a pricey name. or a new home. there's no housing prices in the silicon valley. >> you're having homes sell over list price, not only over but sometimes several thousand over. >> reporter: who are these people getting rich or hoping to in the middle of a great

recession. >> record breaking month. >> introducing fox.net. >> reporter: in 2005 they opened a company called box which allows companies to share and store files from cell phones, ipads and androids. in the last nine months, dylan and aaron doubled their workforce, now up to 6 million users, and they're moving to a new building three times as large. >> we wanted to be right in the middle of silicon valley where there is much more talent, much more capital, much more access to resources and i think this is the place to do that. >> reporter: they expect to more than triple their revenue every year for the foreseeable future. >> the biggest temptation is probably to do too much, although we're growing quickly we need to focus on what's going to drive the most value for the business. >> reporter: it does seem every corner of the silicon valley has an office park fully occupied by hot high tech companies. of course, it was that way in the 1990s and then the bubble burst. could that happen again?

tim draper is the leader valley financier. it could happen again, he says, but this time conditions are different. the whole world now is the marketplace. >> you can start a business anywhere and it will spread around the world fairly quickly because we now have 3 billion users of cell phones and 2 billion users on the internet. >> reporter: dylan and aaron aren't thinking of going broke, they're having too much fun growing their company. they must be doing something right. big money experts say they could get $600 million for box right now. but it's not for sale. >> that of course was tom brokaw reporting from silicon valley. according to news corp.-owned "wall street journal," the justice department is preparing subpoenas as part of an investigation into the scandal of that company. the paper reports government officials claim officials within rupert murdoch's company hacked

into the e-mails of september 11th victims and paid bribes to british police. it is the latest investigation in the scandal surrounding the murdoch empire, that gigantic empire has been dealing with this for weeks. and the front pages of most british newspapers today are reporting this this morning, the news corp. exec james murdoch misled parliament during his testimony earlier this week. "the telegraph" specifically reads, mps were mislid by james murdoch, while "the guardian" reports murdoch lies to mps. the accusers say james murdoch lied when telling parliament that he did not have knowledge of the hacked phone transcripts before ordering a large payout to the reporter who obtained the records. murdoch says he stands behind the testimony. this story doesn't end just yet. still ahead on "way too early" this morning, after getting a pink slip, tiger

woods' caddie, you know the guy, he's now speaking out. he is not happy and he says he's, quote, lost respect for his former boss. plus, breakout the kiddie pools, triple-digit temperatures are here to stay. it feels like a hair dryer is on right now. your blistering forecast with bill karins when "way too early" comes back. 85 degrees right now in new york city. milwaukee police were led to an apartment in this building after they were flagged down by a handcuffed man who imklaed he'd been attacked. what they discovered was almost unspeakable. [ female announcer ] ever wish vegetables

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"way too early" right now, but way too hot in the swamp of the central park. i mean, this city is steaming right now, 85 degrees, i think the humidity they say like 375% on a morning like this? bill karins is here right now with the forecast. we've still got some more of this. it's not done yet. >> no, this is an historic morning for many locations, but new york city, you are one of them. to start the morning, this is as warm as it gets for starting a morning. it is 94 heat index when you walk outside right now in new york city. that is warmer thani where else in the entire country right now. the worst of the heat is going to be from d.c. to new york, somewhere in that region will probably get close to 120 heat index later on today. so as advertised, this is even worse than what we saw yesterday. here's what we're looking at as far as numbers. today should be about 101 in central park. we're looking at 103 in washington, d.c., raleigh, up to 104. and it's humid. this isn't phoenix heat where

it's a dry heat, this is oppressively humid. here's what i'm forecasting for the max heat index. this is when you combine the humidity and the temperature out there. it should feel about 110 to 120 in the busy areas of i-95, but look how much of the country is up there, 105, to 110. it will improve a little bit saturday in some areas but we're still looking at about 102 for the temperature in new york city. >> i'm supposed to be playing a softball game in central park at noon. >> you will be a sponge. a walking sweat factory. >> kind of you to say. thanks, billy. moving on to sports now, nfl highlights or there may be some eventually. after a full day of meetings in atlanta, nfl owners have approved a ten-year labor agreement that would end the lockout and have training camps open within days. this may be too early to start your tailgate, at least so far. players have not seen the full proposal and are delaying a vote until they do so. that could happen today. nfl players association

executive director demaurice smith summed it up in an e-mail sent last night, issues that need to be collectively bargained remain opened. other issues such as workers' compensation, economic issues and end of deal terms remain unsolved. there is no agreement between the nfl and the players at this time. enough of the talk, can we just play some darn football? it's becoming an ugly breakup between tiger woods and his caddie of 13 years steve williams. williams is speaking out, venting some of his frustrations about being let go. take a listen to this. >> i'm a stickler for loyalty, and i stuck through tiger through his difficult period. a lot of people thought i should have left his side when things weren't going the way they should be going, if you like. i told him in 2010 at augusta, he had to earn my respect back. he was aware of that, and

obviously he would know right now that i've lost a tremendous amount of respect for him, especially what's just transpired. so through time i hope he can gain my respect back. to baseball now, yankees finishing their series against the rays in tampa bay, cc sabathia looking to get 15 wins, that's longoria taking it deep, 1-0 rays. the runner on first chasing, trying to come all the way to score, sam fuld with a 2-out triple. curtis granderson coming in to pinch-hit. kyle farnsworth swings one into the dirt and the rays get away with a 2-1 victory. nothing says the weekend like a brawl in soccer. this one courtesy of venezuela and the semi finals, things boiling over, oh, careful where

you're backing up. venezuela lost, but they went down swinging. paraguay goes toe to toe with uraguay. you can imagine the spanish broadcasters, brawl! no? okay. closer to a deficit deal with john boehner just in time for democrats to complain about the new plan. we're going to discuss whether a compromise is really possible. also, when we come back, we're going to huddle around the water cooler where rahm emanuel takes his interview and goes home. what caused chicago's mayor to walk away when "way too early" returns. more than you think. that's why there's charmin ultra strong. e is soft and more durable so it holds up better. fewer pieces left behind. charmin ultra strong.

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millions of americans searching for sweet and cool relief over the last few days as triple-digit temperatures scorched states from the central u.s. and southwest to the east coast. but what exactly is the cause of this spike in the mercury? well, it's a weather phenomenon known as the heat dome. you've probably heard that phrase this week. if you want to sound smart today, tell your friends a heat dome is caused by a huge area of high pressure that traps and compresses hot, humid air from the gulf of mexico. that's according to the national weather service, which estimates the current heat dome covered

some 1 million square miles. that's how to sound smart, if you want to sound cool just invite them into the ac today. let's gather around the water cooler to discuss the do's and don'ts of interviewing a public official. on wednesday chicago mayor rahm emanuel sat down with the local nbc station reporter, maryann ahern, she touched on what's considered the third rails of interviews with public officials, politician kids. the question? public or private school. here's what happened. >> my children are not an instrument of me being mayor. my children are my children. and that may be news for you, and that may be new for you, maryann. but i want you to understand, no, no, no, you have to understand this. i'm making this decision as a father. >> reporter: i have so many more questions for you. >> and i look forward to a future interview.

>> please? >> i'm done. especially after that. >> my favorite part was the "please?" emanuel walking out of that interview ten minutes early. he's not the only person subjected to questions about his kids' schooling. here's one of the classics. >> you don't send your children to public schools, you send them to private schools. so i was wondering why you think it's fair to be cutting school funding to public schools. >> what's her name? >> what's her name guys, as the governor's talking. >> what is it? >> gail. >> first off, it's none of your business. i don't ask you where you send your kids to school. don't bother me about where i send mine. >> i kind of feel for gail at some point, she's probably still recovering from that response by governor chris christie there. michele bachmann was on the brody file, he asked her about her favorite food. another highlight worth watching. >> my favorite food of all time is celery.

i'm honest to god my favorite food is celery. i love -- no, no, straight up celery. i will personally consume the entire stalk of celery. at the thanksgiving table, i have the plate of celery. i know it's strange, it's my favorite food. >> and how could we forget the connoisseur presidential candidate jon huntsman. take a listen. >> well, it isn't just taco stands, i love street food because street food is so fresh cream.

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